Mandatory LEI code requirements in India (RBI regulations)
The Reserve Bank of India (RBI) requires remitter and beneficiary Legal Entity Identifier (LEI) details to be included in all single payment transactions of ₹50 crore and above undertaken by non-individual entities through NEFT (National Electronic Funds Transfer) and RTGS (Real-Time Gross Settlement), including RTGS customer and inter-bank transactions.
LEI is not required for transactions where both the remitter and beneficiary are individuals. LEI is also not required for payment transactions of the Central Government or State Governments and their Ministries or Departments; however, Government-owned corporations and undertakings are required to include LEI details for single NEFT and RTGS transactions of ₹50 crore and above.
Read more about Mandatory LEI requirements on the Reserve Bank of India site.
Entities required to obtain LEI number in India
In general, any legal entity that participates in financial transactions or regulated markets is required to obtain a Legal Entity Identifier (LEI). Legal entities include companies, investment funds, trusts, partnerships, and other organizational structures that can enter into contracts in their own name. Individuals are not required to obtain an LEI.
In practice, LEIs are required for entities that are:
- Trading securities or derivatives.
- Subject to financial or regulatory reporting requirements under applicable regulations.
Read more about entities required to obtain an LEI on the Reserve Bank of India site.
Transactions requiring LEI in India (e.g., NEFT / RTGS)
For NEFT and RTGS payment systems, all single payment transactions of ₹50 crore and above undertaken by non-individual entities must include remitter and beneficiary Legal Entity Identifier (LEI) details.
In the case of RTGS, this requirement applies to both customer payment and inter-bank transactions that meet the above criteria.
Read more about LEI requirements for NEFT/RTGS transactions on the Reserve Bank of India site.
Local Operating Units (LOUs) in India
Legal entities may obtain an LEI from any Local Operating Unit (LOU) accredited by the Global Legal Entity Identifier Foundation (GLEIF). All accredited LOUs operate under the same global standards and governance framework, ensuring that LEIs are issued, validated, and maintained consistently worldwide.
In India, LEIs can be obtained through, for example, Global LEI India Private Limited (globallei.in), a subsidiary of Nordic Legal Entity Identifier (NordLEI), an accredited LOU authorised by GLEIF. LEIs issued through Global LEI India are accepted by RBI, SEBI, and international regulatory requirements. The LEI is issued after the entity is verified against official records and is kept up to date in line with ISO 17442 standards, ensuring a reliable and globally recognised identification of legal entities.